Trevena, Inc. (TRVN) Hits New 52-Week Low Following Analyst Downgrade

Shares of Trevena, Inc. (NASDAQ:TRVN) reached a new 52-week low during trading on Thursday after HC Wainwright lowered their price target on the stock from $8.00 to $7.00. HC Wainwright currently has a buy rating on the stock. Trevena traded as low as $1.99 and last traded at $1.99, with a volume of 2,991,116 shares traded. The stock had previously closed at $2.37.

A number of other analysts have also recently commented on TRVN. Zacks Investment Research cut shares of Trevena from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. Oppenheimer Holdings, Inc. set a $8.00 target price on shares of Trevena and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, Cowen and Company reiterated a “buy” rating and issued a $10.00 target price on shares of Trevena in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $10.23.

A number of hedge funds and other institutional investors have recently made changes to their positions in TRVN. Dimensional Fund Advisors LP lifted its stake in Trevena by 528.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 711,615 shares of the biopharmaceutical company’s stock valued at $1,637,000 after acquiring an additional 598,383 shares during the period. Paulson & CO. Inc. acquired a new stake in Trevena during the 1st quarter valued at approximately $1,496,000. Palo Alto Investors LLC acquired a new stake in Trevena during the 1st quarter valued at approximately $1,253,000. FMR LLC lifted its stake in Trevena by 4.5% during the 1st quarter. FMR LLC now owns 7,037,804 shares of the biopharmaceutical company’s stock valued at $25,828,000 after acquiring an additional 304,256 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Trevena by 15.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,822,103 shares of the biopharmaceutical company’s stock valued at $4,191,000 after acquiring an additional 238,089 shares during the period. Institutional investors and hedge funds own 60.09% of the company’s stock.

The firm’s market capitalization is $117.60 million. The company’s 50 day moving average is $2.48 and its 200 day moving average is $2.75.

Trevena (NASDAQ:TRVN) last posted its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.35). On average, equities analysts predict that Trevena, Inc. will post ($1.41) earnings per share for the current year.

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Trevena Company Profile

Trevena Inc is a biopharmaceutical company, which is engaged in developing various therapies. The Company is developing OLINVO, a u-receptor G protein pathway selective modulator (u-GPS) for the management of moderate-to-severe acute pain where intravenous (IV) administration is preferred. It is focused on commercializing it in the United States for use in acute care settings, such as hospitals and ambulatory surgery centers.

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